Scaddan, who is based in London, joined HSBC two years ago from Credit Suisse, where he spent seven years.

HSBC has this year overhauled its investment banking operations. It first signalled its intention to target investment banking in April 2003 with the appointment of John Studzinski, from Morgan Stanley, as co-head of its global corporate, investment banking and markets business, alongside Stuart Gulliver.

HSBC said the division had become a “strategic priority” and Studzinski and Gulliver were tasked with building a heavyweight investment banking business. Studzinski quit this May and joined the Blackstone Group, a private equity company.

Marilyn Spearing, most recently global head of sales for its transaction banking business, left to join Deutsche Bank.

Alex Yule-Smith also departed. He worked in corporate investment banking and markets, where he was head of equity capital markets for central and eastern Europe, the Middle East and Africa.

Before Studzinski’s departure, John Jacobs, head of European technology investment banking at HSBC, who also joined from Credit Suisse in 2004, left in January.

HSBC restructured its corporate, investment banking and markets operation into three business lines the next month.